LBK Bi-Weekly Operation Report (2020.04.16–2020.04.30)

LBank Exchange
3 min readMay 8, 2020


Product Updates

1. Completed currency exchange of SSC and XWC;

2. Launched the USDT based on TRC20 protocol, and with withdrawal fee free;

3. Added a new function of hidden trading pair;

4. Optimized App traffic;

5. Increased the price risk reminder of transactions and the price reminder of placing orders;

6. Optimized ETF net value and management rate;

7. Adjusted the man-machine verification method of app;

8. Upgraded OTC risk control, completed face verification and opened the merchant code when binding the card.

Operational Updates

1. Completed 「LBK Spring Duck Plan」 Special Sale with BBCNP with a total amount of 600,000 USDT. Repurchased and burned 55,045,871.56 LBK at the price of 0.0109 USDT/LBK.

Burning address: 0xB8e52B05Faf9490507A0F5E8eD0C286EF0C21EF6

2. Completed two cycles of BTC mining rewards settlement of LBK Cloud-Hashrate from April 13 to April 26, with a total mining rewards of 1.1841536 BTC.

3. Launched XWC New Coin Trading Competition with a total reward of 5,000 USDT.

4. Completed BBC Q&A Airdrop with a total reward of 14,400 BBC, equivalent to 8,640 USDT.

5. Completed GL Q&A Airdrop with a total reward of 420,000 GL, equivalent to 10,500 USDT.

6. From April 13,2020 to April 26,2020, the income of total transaction fee is 204,693.47 USDT. The community node released 2 times, at a release rate of 20%.

From April 13 to April 19, 2020, the total community nodes is 27 and the transaction fees of the nodes is 102,796.2 USDT. Weekly total amount of node release is 1,581,480 LBK and the release price of LBK is 0.0130 USDT/LBK which is equivalent to 20,559.24 USDT.

From April 20 to April 26, the total community nodes is 27 and the transaction fees of the nodes is 101,897.27 USDT. Weekly total amount of node release is 1,698,287.833 LBK and the release price of LBK is 0.0120 USDT/LBK which is equivalent to 20,379.454 USDT.

From April 16 to April 30, user’s weekly lockup release is 31,988,227.85 LBK. The price of LBK during the release is 0.0130 USDT/LBK, which is equivalent to 415,846.96 USDT.

Note: The transaction fees of the node are released week by week.

Marketing Activities

Launched the 23rd phase (04.13–04.19) and the 24th phase(04.20–04.26)of LBK “You Propose, We’ll Change” activity. A total of 4 users’ feedback have been received and will be solved within this month. During the half month report announcement, LBank is collecting the users’ feedback for the 25th phase.

LBK Quotation Summary

Since the LBK project opened quotation at the price of 0.015 USDT from August 12th, 2019, after the sharp rises and corrections in the early stage, the price during the past half month fluctuated between 0.0095 USDT and 0.0115 USDT. From August 13, 2019 to April 30, 2020, total volume is around 21,056,741,000 LBK. From April 16 to April 30, total volume is around 2,312,741,000 LBK.

In terms of the 4-hour K line, the price of LBK in mid-to-late April was relatively stable. At one point during the session, the LBK tried to break through, but it gradually stabilized and returned. Considering that the LBK is about to be completed unlock recently, the signs of the bottom are more and more obvious.

Recently, the volume increased obviously, the bottom of the turnover rate increased significantly. At one point on April 19, the record volume reached 385,754m, which further confirmed the assumption of the bottom of LBK.

The top pressure level position, 0.0120 USDT, appeared several times to sell, the pressure position is obvious. If an effective breakout can be achieved in the near future, it will indicate that the upward channel is open again, and the price is expected to return to the issue price, 0.015USDT, soon.

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